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The trend SA homeowners are abandoning as building costs rise

Would-be renovators could soon abandon plans to buy and extend original character homes as soaring building costs make move-in ready properties a more cost-effective option.

Selling agents say it now costs up to three times more to extend an existing dwelling than to build new, dampening dreams of many buyers wanting to put their own stamp on traditional heritage homes.

As construction costs continue to rise, agents say buyers seeking heritage villa or bungalow-style properties are focusing on homes already extended and renovated by previous owners, rather than take on the addition of contemporary, open-plan living areas themselves.

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8 Elizabeth St, Tanunda.

8 Elizabeth St, Tanunda.

8 Elizabeth St, Tanunda.

8 Elizabeth St, Tanunda.

“(Extending a heritage home) is becoming very expensive,’’ said Ray White Adelaide City selling agent Andrew Downing.

“And it’s getting harder to get trades as well.

“It (extending and renovating heritage homes) has always been a popular option … but sometimes the reality doesn’t work out – you might start off with a price (estimation of building works) but then you make changes here and there and it doesn’t stop (the price keeps increasing).’’

Mr Downing, whose listings include “Roseville’’, a stunning three-bedroom residence at 8 Elizabeth Street, Tanunda, said while demand for heritage-style homes was still strong, more buyers were seeking properties where the extension work had already been done.

Originally built in circa-1910 and boasting an Angaston marble façade, Roseville has been extensively renovated and extended to include a gourmet kitchen and expansive rear living area, a walk-in robe and ensuite to the main bedroom and a sparkling swimming pool.

“Even if you do a reproduction build, it’s still not the same as (an original) character home,’’ Mr Downing said.

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8 Elizabeth St, Tanunda.

8 Elizabeth St, Tanunda.

8 Elizabeth St, Tanunda.

8 Elizabeth St, Tanunda.

“We’ve had a fair bit of interest (in the Tanunda listing), including from those who want the character (of an older home) but they don’t want to do the work (to extend) – they want something ready to move-in.’’

McGrath Real Estate Group Glenelg director Paul McGrath said buyers often felt a strong emotional attachment to traditional character homes but many did not recognise the high costs involved in restoring and extending them.

“Everyone thinks they can do it (renovation work) for half price but they underestimate what’s involved,’’ Mr McGrath said.

“When you add on to something, you have to get everything matched up, whether that’s rooflines, ceiling heights – everything has to match up with this or that.

“Most people are uneducated to the true costs (of building extensions) and once you’re committed (have started building work) you can’t stop and they end up spending too much.’’

– by Lauren Ahwan

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Waterfront wonder: Tasteful Taroona home offers luxe living

No.15 Grange Ave, Taroona. Picture: Supplied

Leafy, private, luxurious — there is a lot to like about this home by the River Derwent.

Perched in one of Hobart’s most coveted locations, this exceptional Taroona waterfront residence combines sophisticated design with serene riverside living.

No.15 Grange Ave showcases thoughtful architecture that maximises its stunning river views, creating a seamless connection between indoor living spaces and the waterfront landscape.

Step inside the front door and the first thing you will see is a view of the water — it is impossible to miss.

And throughout the home, smartly orientated and positioned windows frame their own unique river vistas.

The most extraordinary of them is found sprawling across the living room and the dining/family room. This vast glazing is like a large landscape painting, except the artwork is alive with the action on the water as boats sail past and sea eagles fly by.

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No.15 Grange Ave, Taroona.

No.15 Grange Ave, Taroona.

No.15 Grange Ave, Taroona.

The next owner of this four-bedroom home will be able to enjoy the same wonderful waterfront show from the top floor master bedroom, too.

Listed for sale with Peterswald’s Craig Anderson and Jess Hansen, the agents describe this home as “outstanding” and “an amazing property”.

Mr Anderson said potential buyers had been impressed by the quality of the home.

At private inspections, he said people had noted the home’s “sophistication” and its “tasteful interior design”.

“Everyone that has seen it in person has been very impressed,” he said.

“The owners have significantly updated the property, including new bathrooms, a new kitchen, landscaping, and the results are superb. It is a credit to them.”

No.15 Grange Ave, Taroona.

No.15 Grange Ave, Taroona.

No.15 Grange Ave, Taroona.

Ms Hansen said the property was among the finest currently on the market.

“It is the type of property that will appeal to professional couples and small families,” she said.

Natural light floods throughout the residence, highlighting its clean-lined decor and enhancing the ambience.

The open-plan layout features interconnected living areas designed for entertaining and quiet relaxation, complemented by a well-appointed European kitchen including a wide Smeg cooker with a gas cooktop. This culinary space is home to another example of windows that frame the mesmerising views.

No.15 Grange Ave, Taroona.

No.15 Grange Ave, Taroona.

Accommodation options are flexible here, depending on the needs of the next owners.

A high-end home like this one is always going to offer a spacious master bedroom — with uninterrupted water views — but there are up to three additional bedrooms, all serviced by two contemporary bathrooms.

A versatile sunroom doubling as a study includes a modern wood heater, providing a cosy retreat during cooler months.

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The property’s practical features include abundant storage throughout, a separate gymnasium that could alternatively serve as a dedicated yoga or pilates space, and a double garage.

The outdoor entertaining options are equally impressive, with riverside timber decking across various levels and paved terraces offering multiple spaces to relax while enjoying the waterfront outlook. The uninterrupted view from the paved terrace is unforgettable, and a place that the next owner will undoubtedly want to spend time enjoying.

No.15 Grange Ave, Taroona.

No.15 Grange Ave, Taroona.

No.15 Grange Ave, Taroona.

Comfort is assured through double glazing and a ducted electric heating and cooling system.

The residence sits in what locals consider the premium end of Taroona, on a street where properties rarely change hands, making this a significant opportunity in the Hobart property market.

“This is an unparalleled opportunity to secure a waterfront residence in one of Hobart’s most tightly held streets at the Paris end of Taroona,” the agents say.


This waterfront sanctuary represents contemporary coastal-style living at its finest, offering privacy, sophistication and an enviable lifestyle.

No.15 Grange Ave, Taroona is listed with Peterswald. It will be sold by expressions of interest over $3.25m.

The post Waterfront wonder: Tasteful Taroona home offers luxe living appeared first on realestate.com.au.

June 25, 2025/0 Comments/by JKents
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Housing concession wars: Aus ‘most attractive’ handout revealed

USS GEORGE WASHINGTON

The $1m price threshold and $150k individual salary eligibility is set to allow more FHBs to buy in places like Brisbane. Picture: Darren England

In a daring move, an Aussie state is shaking up the housing concession wars, giving the ‘most attractive in the nation’ chance to house hunters to buy their first home.

The move, announced in the Queensland budget by treasurer David Janetzk on Tuesday, has seen wide support from real estate lobby groups in the first LNP state government budget here in a decade.

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Premier Presser

Queensland housing minister Sam O’Connor, Premier David Crisafulli and REIQ CEO Antonia Mercorella at the site of a new housing development in Capalaba. Picture: Liam Kidston

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The scheme will allow 1,000 buyers to land their first home off just a 2pc deposit as part of a $165m “close the deposit gap” program, with the government sharing the equity load up to 30pc for new homes and 25pc for existing homes – and access expanded for workers that earn up to $150,000 or couples bringing in up to $225,000.

The program – which opens for expressions of interest in a week (July 1) – covers properties up to $1m across Queensland to take into account record price surges since the pandemic – a threshold that’s $250k jump on what LNP campaigned for during the election period.

Given the government expects to raise over $45b in taxes from the property sector over the next four years, Real Estate Institute of Queensland head Antonia Mercorella came out in support of the initiative as well as future reform.

“With suitable income eligibility thresholds of up to $225,000 for couples and $150,000 for singles and a statewide property value cap of $1m, the scheme reflects modern property prices across Queensland and makes it the most attractive in the nation.”

1,000 first home buyers are set to tap into the expanded scheme across Queensland. Picture: AAP Image/Dave Hunt

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Property Council Queensland executive director Jess Caire also welcomed the move to a more housing focused budget.

“Responding to the housing crisis is clearly a focus of this budget with significant spending allocated towards creating new supply, community housing and helping first home buyers get their foot in the door of the housing market,” she said.

“The $165m Boost to Buy scheme was an ask in our 2024 Be a Queenslander election campaign and an initiative that will help many Queenslanders realise the dream of home ownership.”

Ms Mercorella said Brisbane local government area median house prices had already passed the million-dollar median mark, while Greater Brisbane was close, with units also surpassing the $700,000 level across the Gold and Sunshine Coasts.

“The generous cap ensures the scheme is relevant in all corners of our state including high-demand areas like Brisbane, the Gold Coast, and Sunshine Coast, where the median house price now sits above $1m. Without this adjustment, the scheme risked being out of touch with the reality faced by many first home buyers today.”

Premier Presser

REIQ CEO Antonia Mercorella is hopeful a solid reform program will also be put in place soon. Picture: Liam Kidston

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She did not expect the program to distort property demand given FHBs made up a small share of overall market activity, but said it “may assist in rebalancing housing pressure by helping some renters transition into ownership”.

“I don’t think we can underestimate the material impact this can have on thousands of lives and for generations to come.”

Among the areas still on REIQ’s wishlist for the state was stamp duty reform in favour of a land tax-based model, and abolishing stamp duty for downsizers over 55.

“We’ve seen a promising start with some relief for first home buyers through higher stamp duty concession thresholds, abolishment of stamp duty on new builds, and the removal of restrictions on renting out rooms, and now we’d like to see some relief extended to people at the opposite end of the housing cycle – downsizing Queenslanders.”

“We’re hearing calls to remove barriers that delay older Queenslanders from downsizing – a stamp duty exemption would achieve this and also, in turn, allow younger families to upsize.”

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Ultimate party house: Sports bar, theatre, resort pool, glass garage

108 Cres Ave, Hope Island.

A private estate with Beverly Hills looks and A-list vibes is up for auction, and it’s in a surprise acreage pocket in southeast Queensland.

Set on a sprawling waterfront block at Hope Island on the Gold Coast, the palatial eight-bedroom home boasts a raft of ultra luxe features including a port cochere, resort style swimming pool, in-ground fire pit, sports bar, and a glass-walled garage to show off your favourite classic car.

The Hope Island property is going to auction on July 12.

The kitchen, dining and lounge opens to the outdoor terrace.

The home is on the waterfront at Hope Island.

Gold Coast business owner Brenton Fisher is the creator of the newly finished home, after discovering the block by chance while completing a job next door.

“Although I lived close by, I didn’t even know this spot existed,” Mr Fisher said.

“It’s a hidden pocket of acreage with all these prestigious homes.”

Mr Fisher purchased the land in May last year and immediately set to work with his architect designing a premium property befitting the exclusive location.

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The lounge, kitchen and dining area.

The sports bar.

“It’s one of just eight waterfront blocks and all the other residences are grand estate-style homes, so I knew it would need to be large in size and impressive,” he said.

Just over a year later, the immaculately finished property well and truly meets that brief, with no expense spared in its design, scale, and striking street presence.

Set at the end of a driveway framed by date palms and dragon trees, the residence is known as ‘Salt’ and encompasses a two-storey main house, a self-contained studio, and secure car accommodation for up to eight vehicles.

The firepit and resort-style pool.

The house offers A-list vibes.

The home itself unfolds behind a soaring port cochere and is entered via an oversized pivot door leading to a grand foyer complete with marble quartz feature wall and custom-designed circular staircase.

Once you’re inside, the premium finishes keep on coming, including multi-level skylights, polished concrete floors, imported marble, sky white dolomite, premium LED feature lighting, and bespoke custom joinery.

The soaring port cochere.

Another sitting area to unwind.

“I had previously built at Runaway Bay and received great feedback, so I used a lot of similar finishes,” Mr Fisher said.

“The aim was to make it amazing and maintenance free, and there’s not a centimetre that’s cheap or average.”

Boasting resort-style proportions, six of the property’s eight ensuited bedrooms are located upstairs, and five enjoy their own private balcony.

Downstairs is devoted to entertaining and includes a 12-seat theatre and sports bar along with an open plan kitchen, lounge, and dining area that leads directly to an alfresco terrace, overlooking the pool and waterway.

108 Cres Ave, Hope Island.

108 Cres Ave, Hope Island.

“I love having people come together so there are multiple areas to entertain,” Mr Fisher said.

The outdoor terrace boasts a built-in teppanyaki bar with fridge, the formal lounge features a fireplace, and the sports bar is an absolute scene stealer courtesy of a glass feature wall

adjoining the garage.

“It’s a space where you can park your classic car or collectable and enjoy it while you’re in the sports bar,” Mr Fisher said.

The residence has meticulous attention to detail.

Looking out the waterfront.

Beyond the entertaining terrace, a sunken firepit features a window into the swimming pool, and a 15m boat pontoon completes the coastal lifestyle.

Meanwhile, the location offers easy boating access to the Broadwater, while the property looks across the waterway to the pristine beauty of natural wetlands.

The property goes to auction via Mitch Booth of Amir Prestige Group on July 12.

The post Ultimate party house: Sports bar, theatre, resort pool, glass garage appeared first on realestate.com.au.

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Why new inner-city homes are selling out before they even reach the market

Demand for inner-city units is so high that this $260 million Brisbane project has sold out nearly all of its homes before a public launch.

Development on The Carter – a 125-unit project in Kangaroo Point – has begun ahead of schedule, with 85 per cent of its units already sold through returning buyers and direct referrals.

The project is a collaboration between Mosaic Property Group and BDA Architecture, sitting on a 2,124 sqm site and featuring a range of two to three-bedroom homes over 22 floors.

The Carter by Mosaic Property Group, a $260 million project located in Kangaroo Point.

With 125 units, 85 per cent of the inner-city homes were already sold out before public launch.

Mosaic founder and managing director Brook Monahan said construction could start so early thanks to the strong response before the project’s public launch.

“Behind that was a significant amount of upfront work – from detailed design resolution to builder engagement – all managed by our internal teams,” he said. “Mosaic oversees the entire process in-house, including construction, which allows for tighter co-ordination, faster decision-making, and greater certainty around delivery.”

The majority of sales were through returning buyers and direct referrals.

Prices begin at $1.115 million for a two-bedroom home, with three-bedroom units beginning at $1.97 million.

The price then jumps to $3.035 million when looking for a three-bedroom apartment that includes a multipurpose room.

Designed for downsizers and locals, The Carter features north-facing balconies, protected views over the nearby surroundings and spacious internal layouts for residents moving in.

Prices for the homes start at $1.115 million.

The unit’s amenities are coupled with communal features such as a golf simulator, cinema and gym, as well as a rooftop level with a pool, sauna and teppanyaki bar.

“A lot of time went into understanding how people want to live in this particular location,” Ms Monahan said. “We also focus heavily on how our buildings will perform over time – both in how they look and how they operate. That long-term thinking underpins every decision we make.”

Residents can expect to move in to the development some time in early 2027.

The majority of buyers so far have been owner-occupiers, with a percentage of investors also securing homes within the project.

“Most are coming from within the inner suburbs and are looking for well-designed, generously proportioned homes with access to wellness and lifestyle amenities,” Mr Monahan said, and added he felt it was important for Mosaic to keep involved with the development after completion.

“There’s a strong appeal in the assurance of buying from a developer who always delivers, and who remains involved long after completion to protect the quality of the building and resident experience over time,” he said.

Construction is expected to be completed in early 2027.

The post Why new inner-city homes are selling out before they even reach the market appeared first on realestate.com.au.

June 25, 2025/0 Comments/by JKents
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Record-breaking $5m Caulfield South home wows buyers

Villa Rosa’s striking marble-clad facade towers above Sea View Street, blending modernist form with Mediterranean elegance.

A showstopping Caulfield South home has shattered the suburb’s price record for a residential home, after selling for more than $5m.

The bold five-bedroom residence at 6 Sea View St, known as Villa Rosa, features a glowing green onyx ensuite, a 400-bottle wine cellar and a magenta front door.

The reimagined 1960s gem was painstakingly reshaped by its architect-owner over more than a decade.

Designer Patrick Miceli chose to preserve and expand the original mid-century house, creating a statement home where Palm Springs modernism meets Mediterranean glamour.

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Gary Peer & Associates partner Daniel Peer said the home and the result was indicative of Mr Miceli’s dedication to the project.

“It wasn’t knocked down and rebuilt, but the cost of extending and redesigning it probably exceeded what it would’ve cost to start again,” Mr Peer said.

Instead of boxy new construction, Villa Rosa is lined with chevron parquetry, wrapped in dramatic marble finishes, and topped by three-metre coffered ceilings, all softened by landscaped olive trees and synthetic lawn that create a resort-style outdoor zone.

“Patrick was very passionate about retaining the mid-century character,” Mr Peer said.

“But he also wanted to introduce modern European flair. That blend made it really stand out in the market — it’s nothing like anything else in Caulfield South.”

The regal main bedroom overlooks a private garden and features a custom mirrored dressing room and luxe ensuite.

Glass-wrapped indoor-outdoor zones surround the gas and solar-heated pool, complete with olive trees and lawn.

At the heart of the home is a luminous kitchen with a full suite of integrated V-Zug appliances, including dual ovens, a wine fridge, a built-in coffee machine, and a marble-clad butler’s pantry.

From there, the home opens out to a gas and solar-heated pool, an outdoor kitchen with a built-in barbecue and fireplace, and a covered entertaining zone with bi-fold louvres that blur the line between indoors and out.

But Mr Peer said the real showstopper lies tucked away at the rear: a main bedroom suite accessed by a five-metre gallery of floor-to-ceiling mirrored robes that leads into a spa-like ensuite crafted from green onyx, with integrated backlighting that glows through the stone.

“It honestly feels like a movie set,” he said.

“That ensuite is one of the most incredible bathrooms I’ve ever seen.”

The covered alfresco zone flows seamlessly to the gas and solar-heated pool, with a built-in barbecue, fireplace and bi-fold louvres for year-round entertaining.

A subterranean wine cellar and tasting room, one of the most decadent inclusions in Villa Rosa’s luxury layout.

Downstairs, a basement-level wine cellar holds around 400 bottles, tucked behind a secure four-car garage with a separate storage and bin room, just one of several hidden luxuries in the three-storey layout.

Upstairs, a self-contained wing includes three identical bedrooms, each with its own ensuite, along with a cinema room with projector wiring, a second living area, kitchenette, study nook and European laundry, perfect for long-term guests or multigenerational families.

A chef’s dream: the marble kitchen is fitted with V-Zug appliances, dual ovens, and a dramatic golden pendant centrepiece.

Expansive family zones seamlessly connect to outdoor entertaining, with designer touches and statement furniture throughout.

The Gary Peer & Associates partner said the scale of the really blew buyers away.

“Even seasoned buyers would walk through and say, ‘We weren’t expecting that’,” Mr Peer said.

And while the design language spoke of Toorak or Bayside, the buyers came from just down the road.

“All the serious interest came from Caulfield locals,” he said.

“The eventual buyer was a young person who grew up in the suburb.

“Their parents live nearby. They were set on staying in Caulfield South — not even Caulfield North — which is pretty rare.”

The secure basement garage fits four cars with ease, with a separate bin room and additional storage behind.

An opulent ensuite with green-hued onyx and full-height marble, the epitome of high-end designer indulgence.

Gary Peer & Associates had sold the home previously under different owners, with Mr Peer being invited back to mark the personal milestone for Mr Miceli.

“The vendor bought it about 13 to 15 years ago and spent all that time crafting it,” he said.

“He’s a perfectionist, and this was a passion project — not just a house but a real labour of love. It was a privilege to represent him.”

The vendor, architect Patrick Miceli, purchased the property in 2009 for $1.258m.

In today’s dollars, that would be equivalent to about $1.84m, meaning Villa Rosa has gained more than $3.7m in nominal value — and about $3.16m in real, inflation-adjusted terms.

Layered with chevron parquetry and designer lighting, the main living zone pairs bold textures with soft green tones for relaxed, high-end entertaining.

A second bathroom clad in gold-toned stone makes a bold and elegant statement for guests.

With the previous suburb record sitting at $4.71m, also set by Mr Peer just weeks earlier, the agency entered the campaign confident Villa Rosa had what it took to go higher.

“From day one, we said if it sells above five, it’ll be a new record — and that’s exactly what happened,” Mr Peer said.

The sale marked the first residential transaction in Caulfield South to exceed $5m, a milestone publicly confirmed by Gary Peer & Associates on social media following the result.

“Daniel Peer has SMASHED the record price in Caulfield South,” the agency posted.

“Selling 6 Sea View Street for the first ever sale over $5,000,000.”

One of three upstairs bedrooms, each with its own ensuite and custom joinery, creating a luxurious private wing for guests or family.

Mr Peer said the strength of the winter sale pointed to strong momentum heading into the second half of the year.

“Rates have stabilised, political confidence is returning, and buyers are feeling more certain,” he said.

“That last rate cut was described as a ‘confidence cut’, and that’s what we’re seeing now.

‘There’s strong competition for standout homes like this.”


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Buyer of epic mansion ‘The Lighthouse’ revealed

Fitness power couple Mark Carroll and Lauren Simpson have bought The Lighthouse on the Gold Coast.

A fitness power couple has been revealed as the buyers of a glitzy Gold Coast mansion complete with a rooftop pool, casino and gaming arcade.

Influencers Lauren Simpson and Mark Carroll paid $9.5m for a Sovereign Islands property known as The Lighthouse.

Simpson, who is a world bikini champion and has 1.8 million Instagram followers, and Carroll, a successful fitness trainer, have shared clips of the house with their followers.

The Lighthouse has sold in a $9.5m deal.

Mark Carroll and Lauren Simpson. Source: Instagram

The arcade.

The Lighthouse changed hands for $9m in March, 2024 and was listed for sale late last year with Ivy Wu and Isaac Kim of Ivy Realty.

Mr Kim described the four-level home mansion as “iconic”.

“The buyers wanted a bigger house and were absolutely blown away with the Broadwater views and obviously the scale of the house and all the features,” Mr Kim said.

“It only took them one inspection and then they bought it.”

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Inside the sprawling residence.

Mark Carroll and Lauren Simpson.

The casino.

Named The Lighthouse for the glass pyramid on its rooftop shining over the Broadwater, the house was crowned Master Builder’s Gold Coast Home of the Year when it was completed in 2017.

The home comprises about 1,380 sqm of internal living space including four bedrooms and nine bathrooms.

Its bold black facade, trimmed in white with pops of red, features turrets and porthole-like windows, while the home’s top level hosts a full-floor party deck, complete with rooftop pool, barbecue kitchen and teppanyaki bar.

The rooftop pool.

Influencer Lauren Simpson in Palm Springs, California in 2023.

“The swimming pool on the rooftop is incredible,” Mr Kim said.

“Imagine swimming in that pool and overlooking the Broadwater.”

Property features include a luxurious Hamptons-inspired kitchen with marble benchtops, executive office, lavish master bedroom with walk-in dressing room, boudoir, ensuite and private balcony, wine cellar, gym, and lift servicing all levels.

The sellers last year renovated the basement and put in a cinema room, fully fitted casino and gaming arcade.

One of the bedrooms.

Property records show Simpson and Carroll own another house on Sovereign Islands that they bought in 2021.

Mr Kim said the prestige market on Sovereign Islands was strong following a string of mega sales including 44 Knightsbridge Parade West, which sold for $8.5m through Ivy Realty.

Another property known as the castle, at 55 Knightsbridge Parade West, Sovereign Islands, sold in a $14.5m deal via Coastal agent Edin Kara last month.

The highest recorded sale on the Sovereign Islands is $20m, paid by Clive Palmer in 2021 for 7-13 King Arthurs Court.

The post Buyer of epic mansion ‘The Lighthouse’ revealed appeared first on realestate.com.au.

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Christie’s affiliate adds five top agents in Northern California

Christie’s International Real Estate Sereno, the largest locally owned and operated independent real estate brokerage in Northern California, is continuing its growth with the addition of five top-producing agents — formerly with Intero Real Estate Services — to its South Santa Clara County operation. 

Joining the firm’s Morgan Hill, California, office are Karen Nelsen, Stephanie Nelsen-Alanis, Patty Filice, Christina McDermott and Judy Guardino. Together, these agents represent combined lifetime sales of more than $2.5 billion across 3,500-plus homes sold. 

“This is a transformative moment for our South County presence,” Chris Trapani, co-founder and CEO of Christie’s International Real Estate Sereno, said in a statement. “The collective reputation and experience of this group, combined with our investment in a new Morgan Hill office, reinforces our long-term commitment to this vibrant and growing community.” 

Fueled by sustained momentum and increased market demand, the firm also announced it’s establishing a new, larger Morgan Hill office to better serve the needs of clients and agents in the region. 

“I know that who you align with matters,” Nelsen said. “This move isn’t just about changing signs, it’s about continuing to grow with purpose and passion with a company that aligns with my goals, and the level of service that I strive to provide to each and every one of my clients.” 

The newly added agents said their decision to align with Christie’s International Real Estate Sereno signals the brokerage’s continued growth and appeal to professionals in the region.

“Karen Nelsen and Patty Filice are two of the most respected and accomplished real estate professionals in South Santa Clara County,” said Nancy Robinson, vice president of sales for Christie’s Sereno. “With more than four decades of experience each, their reputations for integrity, market knowledge, community leadership, and commitment to clients are unmatched.

“It’s a privilege to welcome them to our company — their presence is not only a tremendous addition to our organization but a meaningful moment for our entire market.” 

June 25, 2025/0 Comments/by JKents
https://www.juliankent.com/wp-content/uploads/2025/11/logo.png 0 0 JKents https://www.juliankent.com/wp-content/uploads/2025/11/logo.png JKents2025-06-25 00:00:582025-06-25 00:00:58Christie’s affiliate adds five top agents in Northern California

Home prices are still climbing, but the pace is slowing

Home prices continue to outpace last year, but at a pace that’s slowing down.

The S&P CoreLogic Case-Shiller Home Price Index for April rose 2.7% year over year, a deceleration from 3.37% in March, 3.9% in February and 4.1% in January. It’s the first data for the Case-Shiller that includes the period after President Donald Trump’s tariff announcement on April 2, which pushed mortgage rates back up to 7%.

“While more homes are coming to market compared to a year ago, high borrowing costs and affordability barriers are tempering buyer enthusiasm,” said Realtor.com economist Anthony Smith in a statement. “Economic uncertainty and elevated rates are likely to keep housing activity slower than usual this spring.”

chart visualization

Major cities continue to account for much of home-price appreciation. The 10-city composite for April rose 4.07% annually. The 20-city composite also outpaced the national number with a 3.42% jump.

Cities in the Midwest and Northeast are outpacing those in other regions. New York again led all cities in growth with a whopping 7.95% rise, followed by Chicago (6.02%), Detroit (5.5%), Cleveland (5.18%) and Washington, D.C. (4.29%).

The index for Tampa fell 2.15% annually, as the area continues to recover from Hurricane Milton last fall. Dallas — which is undergoing a post-pandemic correction — also fell year over year, but only slightly at 0.21%.

table visualization

Miami has been in something of a correction as well, but it’s up 1.38% annually for April.

The Case-Shiller index — widely considered the gold standard for measuring home prices — should provide interesting insights when May numbers are reported next month. That’s because it will have the tariff announcement and 7% mortgage rates fully baked into it.

According to the May existing-home sales report from the National Association of Realtors (NAR), conditions are ripe for softening price appreciation. Unsold inventory is up 20.3% compared to last year, but sales continue to hover just above 4 million on a seasonally adjusted annual basis.

June 25, 2025/0 Comments/by JKents
https://www.juliankent.com/wp-content/uploads/2025/11/logo.png 0 0 JKents https://www.juliankent.com/wp-content/uploads/2025/11/logo.png JKents2025-06-25 00:00:582025-06-25 00:00:58Home prices are still climbing, but the pace is slowing

Record-high home equity provides opportunity for the reverse mortgage industry

Soaring prices and increasingly strained affordability have made things difficult for prospective buyers shopping for their first home. But for households that own their home already, rising prices have been a wealth bonanza.

That’s evident in data from the annual State of the Nation’s Housing Report from Harvard University’s Joint Center for Housing Studies (JCHS), which shows that aggregate U.S. home equity hit an all-time high of $34.5 trillion in 2024. That’s more than triple the $11.4 trillion that had accumulated in 2012.

Along with the rise in equity, total mortgage debt has actually fallen by a marginal amount — from $13.4 trillion in 2012 to $13.3 trillion in 2024. This figure has been relatively flat in the post-pandemic period after rock-bottom mortgage rates helped to keep debt down.

chart visualization

This is good news for seniors looking to remodel their homes for aging in place, including those considering a reverse mortgage for such a purpose. It’s more expensive for people to refinance now given that current rates are more than double what some people previously obtained.

Dan McCue, a researcher with JCHS, said that record-high home equity has uneven benefits on the housing market overall.

“The good part is obviously that a lot of households are gaining a lot of wealth,” he said. “But there’s a low incentive to refinance and cash out some of that equity. That’s keeping debt low, but it’s also slowing down markets. It’s a sign that a lot of people are holding on to equity that’s a result of high house price gains and low mortgage rates.”

The performance of the reverse mortgage industry reflects the opportunity provided by record home equity, despite macroeconomic headwinds that are negatively impacting so much in and around the housing market.

Home Equity Conversion Mortgage (HECM) endorsements dropped by only 1% in May to 2,296 loans, while HECM-backed Securities (HMBS) issuance increased slightly by $9 million.

“My hypothesis is that we’re basically at a place where home values have gone up so much that even with interest rates restricting the principal limits these past few months, this is still a compelling option for the core HECM borrower profile,” John Lunde, the president of Reverse Market Insight, previously told HousingWire.

June 25, 2025/0 Comments/by JKents
https://www.juliankent.com/wp-content/uploads/2025/11/logo.png 0 0 JKents https://www.juliankent.com/wp-content/uploads/2025/11/logo.png JKents2025-06-25 00:00:582025-06-25 00:00:58Record-high home equity provides opportunity for the reverse mortgage industry
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